Board Change • May 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Independent Director Kim Ignatius was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Apr 30
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 55% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (55% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Apr 30
First quarter 2026 earnings: EPS in line with expectations, revenues disappoint First quarter 2026 results: EPS: €0.35 (down from €0.40 in 1Q 2025). Revenue: €142.8m (down 19% from 1Q 2025). Net income: €8.40m (down 7.7% from 1Q 2025). Profit margin: 5.9% (up from 5.2% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 29
Price target decreased by 12% to €13.45 Down from €15.23, the current price target is an average from 4 analysts. New target price is 22% above last closing price of €11.02. Stock is down 21% over the past year. The company is forecast to post earnings per share of €1.19 for next year compared to €1.58 last year. Announcement • Mar 31
Pihlajalinna plc Elects Members to Board Committees on 31 March 2026 Pihlajalinna Oyj at its Annual General Meeting, held on 31 March 2026, elected the following members to Board committees at its constitutive meeting held on 31 March 2026: Audit Committee: Kim Ignatius (Chair), Heli Iisakka and Tiina Kurki and People and Sustainability Committee: Leena Niemistö (Chair), Jukka Leinonen ja Mikko Wirén. Upcoming Dividend • Mar 25
Upcoming dividend of €0.53 per share Eligible shareholders must have bought the stock before 01 April 2026. Payment date: 13 April 2026. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of Finnish dividend payers (5.5%). Higher than average of industry peers (2.6%). Reported Earnings • Mar 15
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: €1.58 (up from €1.13 in FY 2024). Revenue: €652.5m (down 7.4% from FY 2024). Net income: €35.7m (up 40% from FY 2024). Profit margin: 5.5% (up from 3.6% in FY 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.8%. Revenue is forecast to stay flat during the next 3 years compared to a 5.1% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Mar 06
Pihlajalinna Oyj Proposes Dividend or the Financial Year That Ended on 31 December 2025, Payable on 13 April 2026 The Board of Directors of Pihlajalinna Oyj proposed to the Annual General Meeting that, based on the adopted balance sheet for the financial year that ended on 31 December 2025, EUR 0.53 per share will be distributed as a dividend. The dividend will be paid to shareholders who, on the dividend payment record date of 2 April 2026, are registered in the company’s shareholders’ register maintained by Euroclear Finland Oy. The Board of Directors proposes that the dividend be paid on 13 April 2026. Major Estimate Revision • Feb 19
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from €599.7m to €586.0m. EPS estimate also fell from €1.55 per share to €1.40 per share. Net income forecast to shrink 11% next year vs 27% growth forecast for Healthcare industry in Finland . Consensus price target down from €16.75 to €15.65. Share price fell 2.6% to €13.20 over the past week. Reported Earnings • Feb 13
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: €1.58 (up from €1.13 in FY 2024). Revenue: €664.5m (down 5.7% from FY 2024). Net income: €37.6m (up 48% from FY 2024). Profit margin: 5.7% (up from 3.6% in FY 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.8%. Revenue is forecast to stay flat during the next 3 years compared to a 5.1% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Sep 18
Pihlajalinna Oyj Announces Anu Kallio Steps Down from Executive Vice President, Private Healthcare Services and Member Group Management Team, Effective September 18, 2025 Pihlajalinna Oyj announced Anu Kallio, Executive Vice President, Private Healthcare Services at Pihlajalinna Plc, has decided to leave the company. Until further notice, Private Healthcare Services will be led by Seppo Kariniemi, Executive Vice President, Public Services and a member of the Group Management Team. Kallio steps down from the Group Management Team as of September 18, 2025. Reported Earnings • Jul 25
Second quarter 2025 earnings: EPS exceeds analyst expectations Second quarter 2025 results: EPS: €0.36 (up from €0.21 in 2Q 2024). Revenue: €178.1m (up 1.9% from 2Q 2024). Net income: €8.70m (up 81% from 2Q 2024). Profit margin: 4.9% (up from 2.7% in 2Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.9%. Revenue is expected to decline by 4.4% p.a. on average during the next 3 years, while revenues in the Healthcare industry in Europe are expected to grow by 5.0%. 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 15% per year, which means it is significantly lagging earnings growth. Announcement • May 30
Pihlajalinna Updates Financial Guidance for the Year 2025 Pihlajalinna updated financial guidance for the year 2025. The company is lowering its revenue outlook for 2025, primarily due to the earlier-than-expected transfer of services to the wellbeing services county and the divestment of special housing services. In 2025, Pihlajalinna will focus on organic growth especially in Private Healthcare Services, and continued improvement in profitability. The Group estimates consolidated revenue to remain on a par with the previous year's level (EUR 704.4 million in 2024). Price Target Changed • May 02
Price target increased by 9.2% to €15.10 Up from €13.83, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of €14.50. Stock is up 65% over the past year. The company is forecast to post earnings per share of €1.56 for next year compared to €1.13 last year. New Risk • May 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 0.9% per year for the foreseeable future. Minor Risks High level of debt (50% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Apr 24
Pihlajalinna Plc Approves Dividend for the Financial Year Ended 31 December 2024, Payable on 6 May 2025 The Annual General Meeting of Pihlajalinna Plc held on 24 April 2025, approved the proposal of the Board of Directors, based on the adopted balance sheet for the financial year that ended on 31 December 2024, EUR 0.38 per share will be distributed as a dividend. The dividend will be paid to shareholders who, on the dividend payment record date of 28 April 2025, are registered in the company's shareholders' register maintained by Euroclear Finland Oy. The dividend will be paid on 6 May 2025. Upcoming Dividend • Apr 19
Upcoming dividend of €0.38 per share Eligible shareholders must have bought the stock before 25 April 2025. Payment date: 06 May 2025. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Finnish dividend payers (6.2%). Higher than average of industry peers (2.6%). Reported Earnings • Apr 06
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: €1.13 (up from €0.19 in FY 2023). Revenue: €704.9m (down 2.2% from FY 2023). Net income: €25.4m (up €21.2m from FY 2023). Profit margin: 3.6% (up from 0.6% in FY 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.0%. Revenue is expected to decline by 5.8% p.a. on average during the next 3 years, while revenues in the Healthcare industry in Europe are expected to grow by 4.9%. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Major Estimate Revision • Feb 19
Consensus EPS estimates increase by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from €686.4m to €704.0m. EPS estimate increased from €1.30 to €1.50 per share. Net income forecast to grow 32% next year vs 25% growth forecast for Healthcare industry in Finland. Consensus price target up from €12.40 to €13.60. Share price rose 3.0% to €12.00 over the past week. New Risk • Feb 14
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 50% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (50% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Feb 13
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: €1.13 (up from €0.25 in FY 2023). Revenue: €708.2m (down 1.7% from FY 2023). Net income: €27.4m (up 378% from FY 2023). Profit margin: 3.9% (up from 0.8% in FY 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.0%. Revenue is expected to decline by 8.8% p.a. on average during the next 3 years, while revenues in the Healthcare industry in Europe are expected to grow by 5.1%. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Price Target Changed • Dec 13
Price target increased by 12% to €12.40 Up from €11.08, the current price target is an average from 3 analysts. New target price is 13% above last closing price of €11.00. Stock is up 59% over the past year. The company is forecast to post earnings per share of €1.08 for next year compared to €0.25 last year. Reported Earnings • Nov 08
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: €0.26 (up from €0.15 in 3Q 2023). Revenue: €165.1m (flat on 3Q 2023). Net income: €6.30m (up 80% from 3Q 2023). Profit margin: 3.8% (up from 2.1% in 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is expected to decline by 7.0% p.a. on average during the next 3 years, while revenues in the Healthcare industry in Europe are expected to grow by 5.2%. Over the last 3 years on average, earnings per share has fallen by 32% 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. Announcement • Nov 07
Pihlajalinna Plc Appoints Seppo Kariniemi as Chief Operating Officer of Public Services and Continues as Managing Director of Pihlajalinna's and the Wellbeing Services Counties' Joint Companies Kuusiolinna Terveys, Jämsän Terveys and Jokilaakson Terveys Seppo Kariniemi has been appointed as the Chief Operating Officer of Pihlajalinna Plc's Public Services. He has been acting in the role and been part of the Management Team since May 2024. Kariniemi also continues as the Managing director of Pihlajalinna's and the Wellbeing Services Counties' joint companies Kuusiolinna Terveys, Jämsän Terveys and Jokilaakson Terveys. Announcement • Oct 30
Pihlajalinna Oyj Revises Financial Guidance for the Year 2024 Pihlajalinna Oyj revised financial guidance for the year 2024. In 2024, Pihlajalinna will focus on organic growth and improving its profitability and financial position. The Group expects the consolidated revenue to decrease from the previous year's level (EUR 720.0 million in 2023) due to the cost liability for demanding specialised care being transferred to the well-being services county of South Ostrobothnia on 1 January 2024. Previous guidance: The Group expects the consolidated revenue to decrease from the previous year's level (EUR 720.0 million in 2023) due to the cost liability for demanding specialised care being transferred to the well-being services county of South Ostrobothnia on 1 January 2024. Announcement • Oct 01
Pihlajalinna Plc Appoints Jaakko Liljeroos as Chief Legal Officer, Effective 1 December 2024 Pihlajalinna Plc announced that Jaakko Liljeroos will commence as the Chief Legal Officer and as a member of the Management Team of Pihlajalinna Plc on 1 December 2024. As previously communicated in a Stock Exchange Release on 5 September 2024, Liljeroos is joining Pihlajalinna from Valmet Automotive, where he has been working as Group General Counsel since 2020. Announcement • Sep 23
Pihlajalinna Oyj, Annual General Meeting, Apr 24, 2025 Pihlajalinna Oyj, Annual General Meeting, Apr 24, 2025. Announcement • Sep 05
Pihlajalinna Plc Announces Management Changes Pihlajalinna Plc announced that Marko Savolainen, the Chief Legal Officer of Pihlajalinna Plc and member of the Group's Management Team, has decided to leave the company. He will continue with Pihlajalinna until the end of 2024. Jaakko Liljeroos has appointed as the new Group's Chief Legal officer and as a member of the Group's Management Team. He will start in the position latest January 2025. Liljeroos will join Pihlajalinna from Valmet Automotive where he has been working as Group General Counsel since 2020. Prior to this, Liljeroos has worked as General Counsel at Gramo and in various Legal Counsel roles at Stora Enso. Announcement • Aug 27
Pihlajalinna Oyj Announces Appointment of Mika Videman as Chief People and Culture Officer, Effective from 1 October 2024 Pihlajalinna Oy jstrengthens its management team by nominating Mika Vidi Videman as Chief People and Culture Officer as of 1 October 2024. He has been supporting Pihlajalinna as the Group's interim HR Director since autumn 2023. Videman has diverse experience in human resources management, business leadership, and transformation. He has been working as Fazer Group's EVP, Human Resources from 2011 to 2019 and in various senior level positions at Nokia Corporation from 1995 to 2010. He has also worked as an entrepreneur on several occasions throughout his career and helped companies of various sizes with HR and change management challenges. Mika Vidi Videman: Born in 1967, Master of Science, Helsinki University of Technology; Finnish Citizen. Primary working experience: Entrepreneur 2019-2024: For example Cherry Group Oy; Fazer Group 2011-2019: Executive Vice President, HR; Nokia Corporation 1995-2010: Several leadership positions, for example; Head of HR and management team member of Nokia Mobile Phones division; Director, HR, Nokia Devices; Director, Solutions Marketing, Nokia Enterprise Solutions; Director, Alliance Development, Nokia Enterprise Solutions. Major Estimate Revision • Aug 16
Consensus EPS estimates increase by 17% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from €0.83 to €0.974. Revenue forecast steady at €697.0m. Net income forecast to grow 137% next year vs 25% growth forecast for Healthcare industry in Finland. Consensus price target up from €9.80 to €10.68. Share price was steady at €9.98 over the past week. Price Target Changed • Aug 14
Price target increased by 8.9% to €10.68 Up from €9.80, the current price target is an average from 4 analysts. New target price is 8.5% above last closing price of €9.84. Stock is up 24% over the past year. The company is forecast to post earnings per share of €0.97 for next year compared to €0.25 last year. Reported Earnings • Aug 11
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: €0.19 (up from €0.089 in 2Q 2023). Revenue: €175.7m (down 4.3% from 2Q 2023). Net income: €4.80m (up 140% from 2Q 2023). Profit margin: 2.7% (up from 1.1% in 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.8%. Revenue is expected to decline by 1.5% p.a. on average during the next 3 years, while revenues in the Healthcare industry in Europe are expected to grow by 5.3%. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • May 28
Pihlajalinna Plc Appoints Anu Kallio as Director, Private Healthcare Services and as Member of the Management Team, Effective 1 December 2024 Anu Kallio has been appointed as Director, Private Healthcare services and as a member of the management team of Pihlajalinna Plc. She will join Pihlajalinna from Humana Finland where she has been working as Managing Director since 2020. Prior to this, Kallio has worked in various CEO and Financial Management positions at Rinnekoti, Helsinki Deaconess Institute Group, Lindorff Finland, Ilmarinen and Nokia Pension foundation. She will start in the position latest 1 December 2024. Announcement • May 23
Pihlajalinna Plc Announces Executive Changes Pihlajalinna Plc announced Eetu Salunen, the Chief Operating Officer, Public services, has decided to leave the company. Seppo Kariniemi will serve as the interim Chief Operating Officer, Public services and as a member of the Group's Management Team, in addition to his current positions as the Managing Director of Kuusiolinna Terveys, Jämsän Terveys and Jokilaakson Terveys. Kariniemi has worked for Pihlajalinna since the beginning of 2022. Salunen will continue to support the Group’s management for the time being. Major Estimate Revision • May 10
Consensus EPS estimates increase by 20%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from €728.1m to €703.8m. EPS estimate rose from €0.701 to €0.843. Net income forecast to grow 164% next year vs 39% growth forecast for Healthcare industry in Finland. Consensus price target up from €8.30 to €9.23. Share price rose 2.0% to €8.98 over the past week. Price Target Changed • May 07
Price target increased by 7.7% to €9.23 Up from €8.57, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of €8.98. Stock is down 1.3% over the past year. The company is forecast to post earnings per share of €0.84 for next year compared to €0.25 last year. Reported Earnings • May 04
First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2024 results: EPS: €0.30 (up from €0.24 in 1Q 2023). Revenue: €184.2m (down 1.9% from 1Q 2023). Net income: €7.20m (up 31% from 1Q 2023). Profit margin: 3.9% (up from 2.9% in 1Q 2023). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) exceeded analyst estimates by 53%. Revenue is expected to decline by 1.5% p.a. on average during the next 3 years, while revenues in the Healthcare industry in Europe are expected to grow by 5.6%. Over the last 3 years on average, earnings per share has fallen by 29% 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. Announcement • May 03
Pihlajalinna Oyj Revises Earnings Guidance for the Year 2024 Pihlajalinna Oyj revised earnings guidance for the year 2024. The Group expects the consolidated revenue to decrease from the previous year's level (EUR 720.0 million in 2023) against previous guidance of consolidated revenue to increase from the previous year's level (EUR 720.0 million in 2023). Announcement • Apr 16
Pihlajalinna plc announces Changes in Management Team In 2024, Pihlajalinna Plc. will focus on organic growth and improving its profitability and financial position as well as leadership development. Ensuring the operational progress in line with the objectives, Pihlajalinna is strengthening the composition of its management team. Heikki Färkkilä has been appointed as Chief Strategy and Group Operations Officer (CSOO) and a member of the management team of Pihlajalinna as of 17 June 2024. He will be responsible for the development and implementation of the company's strategy and Group operations such as procurement and facilities. Färkkilä will join Pihlajalinna from Neste Corporation where he has held various leadership positions since 2013, most recently as Vice President, Chemical recycling and renewable polymers and chemicals. Tuula Lehto, the Vice President, Communications and Sustainability for Pihlajalinna, has been invited to join company's management team. Lehto is responsible for the company's communications, investor relations and the development and reporting of sustainability. She has been in this role since August 2022 and has been serving as an expert member of the management team since 2023. Lehto has over 20 years of diverse experience in communications and sustainability across various business areas, including communication consulting. She joined Pihlajalinna from the similar role in Oriola Corporation in 2022. Lauri Muhonen has been appointed as Chief Information Officer (CIO) and a member of the management team of Pihlajalinna. He will start in the position latest 1 August 2024. Muhonen has a strong background in diverse IT and digital development roles within the healthcare and pharmaceutical industries. He will join Pihlajalinna from Aava Healthcare Group where he has been working as Chief Digital and Information Officer from 2017. Upcoming Dividend • Apr 04
Upcoming dividend of €0.07 per share Eligible shareholders must have bought the stock before 11 April 2024. Payment date: 19 April 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Finnish dividend payers (5.7%). Lower than average of industry peers (2.3%). Announcement • Mar 28
Pihlajalinna Oyj (HLSE:PIHLIS) announces an Equity Buyback for 150,000 shares, representing 0.66% for €1.3 million. Pihlajalinna Oyj (HLSE:PIHLIS) announces a share repurchase program. Under the program, the company will repurchase up to 150,000 common shares, representing 0.66% of the common shares outstanding for €1.3 million. The shares shall be repurchased to be used as part of the payment of fees of the Group's incentive program and the annual remuneration of the members of the Board of Directors. Repurchases will be made from company’s unrestricted shareholders’ equity. The repurchase program is valid till June 28, 2024. As of March 26, 2024, the company has 22,620,135 common shares outstanding and 43,980 common shares in treasury. Reported Earnings • Mar 21
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: €0.25 (down from €0.42 in FY 2022). Revenue: €720.5m (up 4.2% from FY 2022). Net income: €5.73m (down 40% from FY 2022). Profit margin: 0.8% (down from 1.4% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 46%. Revenue is expected to decline by 1.1% p.a. on average during the next 3 years, while revenues in the Healthcare industry in Europe are expected to grow by 5.6%. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 13% per year. Announcement • Mar 16
Pihlajalinna Oyj Proposes Dividend for Financial Year That Ended on 31 December 2023, Payable on 19 April 2024 Pihlajalinna Oyj proposed to the Annual General Meeting that, based on the adopted balance sheet for the financial year that ended on 31 December 2023, EUR 0.07 per share will be distributed as a dividend. The dividend will be paid to shareholders who, on the dividend payment record date of 12 April 2024, are registered in the company's shareholders' register maintained by Euroclear Finland Oy. The Board of Directors proposes that the dividend be paid on 19 April 2024. Announcement • Mar 05
Antti-Jussi Aro Decides to Leave Pihlajalinna plc as Chief Information Officer, Effective 10 May 2024 Antti-Jussi Aro, the Chief Information Officer of Pihlajalinna Plc, has decided to leave the company. His final operating day will be on 10 May 2024. The recruitment process for the successor has started. New Risk • Feb 18
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.0x 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 (2.0x net interest cover). Minor Risk Profit margins are more than 30% lower than last year (0.8% net profit margin). Reported Earnings • Feb 16
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: €0.19 (down from €0.42 in FY 2022). Revenue: €727.5m (up 5.2% from FY 2022). Net income: €5.70m (down 40% from FY 2022). Profit margin: 0.8% (down from 1.4% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 46%. Revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Healthcare industry in Europe are expected to grow by 3.0%. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Feb 15
Pihlajalinna Oyj Proposes Dividend for the Financial Year That Ended on 31 December 2023 Pihlajalinna Oyj proposed that a dividend of EUR 0.07 per share be paid for the financial year that ended on 31 December 2023. Announcement • Feb 14
Pihlajalinna plc Announces Resignation of Timo Harju as Chief Operating Officer, Private Health Services, Effective 29 February 2024 Pihlajalinna Plc announced Timo Harju, the chief operating officer, Private health services of the company, has decided to leave the company. His final operating day will be on 29 February 2024. Major Estimate Revision • Feb 07
Consensus EPS estimates fall by 19% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.317 to €0.256. Revenue forecast unchanged from €720.0m at last update. Net income forecast to grow 44% next year vs 22% growth forecast for Healthcare industry in Finland. Consensus price target of €8.30 unchanged from last update. Share price was steady at €7.19 over the past week. Major Estimate Revision • Jan 27
Consensus EPS estimates fall by 37% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.507 to €0.317 per share. Revenue forecast steady at €720.0m. Net income forecast to grow 44% next year vs 30% growth forecast for Healthcare industry in Finland. Consensus price target down from €8.57 to €8.30. Share price rose 3.6% to €7.20 over the past week. Price Target Changed • Jan 25
Price target decreased by 7.1% to €8.30 Down from €8.93, the current price target is an average from 3 analysts. New target price is 19% above last closing price of €7.00. Stock is down 22% over the past year. The company is forecast to post earnings per share of €0.49 for next year compared to €0.42 last year. Announcement • Jan 24
Pihlajalinna Plc Provides Earnings Guidance for the Year 2023 Pihlajalinna Plc provided earnings guidance for the year 2023. For the year, the company expects revenues to total approximately to EUR 720 million (EUR 690.5 million in 2022). Reported Earnings • Nov 05
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: €0.13. Revenue: €166.6m (flat on 3Q 2022). Net income: €3.50m (up 6.1% from 3Q 2022). Profit margin: 2.1% (up from 2.0% in 3Q 2022). Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) exceeded analyst estimates by 18%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Healthcare industry in Europe. Announcement • Nov 04
Pihlajalinna Oyj Reaffirms Revenue Guidance for 2023 Pihlajalinna Oyj reaffirmed revenue guidance for 2023. For the period, expects the consolidated revenue to increase from the previous year's level (EUR 690.5 million in 2022). Reported Earnings • Aug 13
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: €0.089 (up from €0.075 in 2Q 2022). Revenue: €183.6m (up 5.7% from 2Q 2022). Net income: €2.00m (up 18% from 2Q 2022). Profit margin: 1.1% (up from 1.0% in 2Q 2022). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 51%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Healthcare 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 fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Aug 11
Pihlajalinna Oyj Provides Revenue Guidance for the Year 2023 Pihlajalinna Oyj provided revenue guidance for the year 2023. For the year, the company expects consolidated revenue to increase from the previous year's level (EUR 690.5 million in 2022). Announcement • Jun 07
Pihlajalinna Announces Appointment of Tuomas Hyyryläinen as the CEO, Effective 1 September 2023 Tuomas Hyyryläinen will start as the CEO of Pihlajalinna Plc on 1 September 2023. As previously communicated in an insider information release on 28 April 2023, Hyyryläinen is joining Pihlajalinna from Fiskars Group where he has been working since 2018 as EVP Business Area Crea and since 2019 as a member of Group's management team. Pihlajalinna's founder and the member of the Board Mikko Wirén has been acting as Pihlajalinna's interim CEO since 9 March 2023. He will continue in this role until Hyyryläinen starts. Major Estimate Revision • May 24
Consensus EPS estimates increase by 19% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €0.497 to €0.59. Revenue forecast steady at €728.6m. Net income forecast to grow 63% next year vs 25% growth forecast for Healthcare industry in Finland. Consensus price target up from €8.48 to €8.80. Share price was steady at €9.62 over the past week. Recent Insider Transactions • May 07
Independent Vice Chair of the Board recently bought €271k worth of stock On the 3rd of May, Leena Niemisto bought around 30k shares on-market at roughly €9.03 per share. This transaction amounted to 4.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Leena's only on-market trade for the last 12 months. Reported Earnings • May 02
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: €0.24 (up from €0.23 in 1Q 2022). Revenue: €187.8m (up 15% from 1Q 2022). Net income: €5.50m (up 3.8% from 1Q 2022). Profit margin: 2.9% (down from 3.2% in 1Q 2022). Revenue exceeded analyst estimates by 6.5%. Earnings per share (EPS) also surpassed analyst estimates significantly. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 04
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.493 to €0.421 per share. Revenue forecast steady at €718.2m. Net income forecast to grow 3.7% next year vs 14% growth forecast for Healthcare industry in Finland. Consensus price target down from €8.63 to €8.43. Share price rose 6.6% to €7.61 over the past week. Major Estimate Revision • Feb 24
Consensus EPS estimates fall by 44%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from €701.6m to €713.3m. EPS estimate fell from €0.834 to €0.463 per share. Net income forecast to grow 9.9% next year vs 15% growth forecast for Healthcare industry in Finland. Consensus price target down from €9.90 to €9.03. Share price fell 12% to €7.96 over the past week. Reported Earnings • Feb 19
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: €0.42 (down from €0.89 in FY 2021). Revenue: €695.4m (up 20% from FY 2021). Net income: €9.50m (down 53% from FY 2021). Profit margin: 1.4% (down from 3.5% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 36%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Jan 04
Hammas Hohde Oy entered into an agreement acquire Oral health business of Pihalajalinna. Hammas Hohde Oy entered into an agreement acquire Oral health business of Pihalajalinna on January 2, 2023. The business has generated annual revenues of about €16 million. The transaction is expected to be completed by the end of the first quarter of 2023. Price Target Changed • Nov 18
Price target decreased to €11.02 Down from €11.92, the current price target is an average from 5 analysts. New target price is 22% above last closing price of €9.02. Stock is down 29% over the past year. The company is forecast to post earnings per share of €0.76 for next year compared to €0.89 last year. Reported Earnings • Nov 05
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: EPS: €0.14 (down from €0.30 in 3Q 2021). Revenue: €165.6m (up 18% from 3Q 2021). Net income: €3.30m (down 52% from 3Q 2021). Profit margin: 2.0% (down from 4.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 50%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Nov 02
Pihlajalinna Oyj to Report Q2, 2023 Results on Aug 11, 2023 Pihlajalinna Oyj announced that they will report Q2, 2023 results on Aug 11, 2023 