Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: €0.11 (vs €0.11 in 1Q 2025) First quarter 2026 results: EPS: €0.11 (in line with 1Q 2025). Revenue: €14.4m (up 1.2% from 1Q 2025). Net income: €4.40m (down 3.7% from 1Q 2025). Profit margin: 31% (down from 32% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Capital Markets industry in Finland. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 19% per year. Declared Dividend • Apr 04
Dividend of €0.26 announced Shareholders will receive a dividend of €0.26. Ex-date: 6th October 2026 Payment date: 14th October 2026 Dividend yield will be 5.0%, which is lower than the industry average of 6.5%. Sustainability & Growth Dividend is not adequately covered by earnings (100% earnings payout ratio). However, it is covered by cash flows (81% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. EPS is expected to grow by 34% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Mar 25
eQ Plc Approves Dividend, Payable on 2 April 2026 and 14 October 2026, Respectively eQ Plc at its AGM held on March 24, 2026 The AGM confirmed the proposal by the Board of Directors that a dividend of EUR 0.52 per share be paid out. The dividend will be paid out in two separate installments. The first installment, EUR 0.26 per share shall be paid to those shareholders who are registered as shareholders in eQ Plc's shareholder register maintained by Euroclear Finland Ltd. on the record date of the dividend payment on 26 March 2026. The first installment of the dividend shall be paid on 2 April 2026. The second installment, EUR 0.26 per share shall be paid in October 2026 to those shareholders who are registered as shareholders in eQ Plc's shareholder register maintained by Euroclear Finland Ltd. on the record date of the dividend payment. The Board shall decide the record date and the payment date of the second installment of the dividend in its meeting in September 2026. It is contemplated that the record date of the second installment will be 7 October 2026 and that the payment date will be 14 October 2026. Upcoming Dividend • Mar 18
Upcoming dividend of €0.26 per share Eligible shareholders must have bought the stock before 25 March 2026. Payment date: 02 April 2026. Payout ratio and cash payout ratio are on the higher end at 100% and 81% respectively. Trailing yield: 4.9%. Lower than top quartile of Finnish dividend payers (5.2%). In line with average of industry peers (5.3%). Announcement • Mar 03
eQ Plc Appoints Pertti Vanhanen as Director, International Business and Member of Management Team, Effective 2 March 2026 eQ Plc announced Pertti Vanhanen, EMBA, has been appointed as Director, International Business, as well as a member of the Management Team of eQ Group. He will start in his role on 2 March 2026, working in both London and Helsinki. Vanhanen is an experienced real estate investment professional and leader with an extensive international career serving major real estate investors. Most recently, he served as CEO for the European and Singapore operations of the Australian company Cromwell Property Group. Prior to that, he held several international top leadership positions at the UK-based asset management and investment company Aberdeen between 2002 and 2020. Declared Dividend • Feb 05
Final dividend of €0.26 announced Shareholders will receive a dividend of €0.26. Ex-date: 25th March 2026 Payment date: 2nd April 2026 Dividend yield will be 5.4%, which is lower than the industry average of 6.5%. Sustainability & Growth Dividend is not covered by earnings (100% earnings payout ratio). However, it is covered by cash flows (81% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. EPS is expected to grow by 34% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Feb 04
Full year 2025 earnings: EPS in line with expectations, revenues disappoint Full year 2025 results: EPS: €0.52 (down from €0.66 in FY 2024). Revenue: €58.9m (down 11% from FY 2024). Net income: €21.6m (down 21% from FY 2024). Profit margin: 37% (down from 41% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Capital Markets industry in Finland. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 21% per year. Announcement • Feb 03
eQ Oyj Proposes First and Second Installment of Dividend for the Period from January to December 2025, Payable on 2 April 2026 and 14 October 2026, Respectively The Board of Directors of eQ Oyj proposes to the Annual General Meeting, to be held on 24 March 2026, that a dividend of EUR 0.52 per share be paid out. The proposal corresponds to a dividend totalling EUR 21,531,742.96 calculated with the number of shares at the close of the financial year. The dividend will be paid out in two separate installments. The first installment, EUR 0.26 per share shall be paid to those shareholders who are registered as shareholders in eQ Plc's shareholder register maintained by Euroclear Finland Ltd. on the record date of the dividend payment on 26 March 2026. The Board proposes 2 April 2026 as the payment date of the first installment of the dividend. The second installment, EUR 0.26 per share shall be paid in October 2026. The second installment shall be paid to those shareholders who are registered as shareholders in eQ Plc's shareholder register maintained by Euroclear Finland Ltd. on the record date of the dividend payment. The Board shall decide the record date and the payment date of the second installment of the dividend in its meeting in September 2026. It is contemplated that the record date of the second installment will be 7 October 2026 and that the payment date will be 14 October 2026. Announcement • Jan 29
eQ Launches Its Third Venture Capital Fund, eQ VC III US eQ launched its third venture capital fund, eQ VC III US. The fund invests its capital in leading North American venture capital funds, targeting elite funds investing in seed, early-stage and growth-stage companies. eQ’s investment advisor is TrueBridge Capital Partners, founded in 2007 and one of the world’s leading investors focused exclusively on venture capital funds. Announcement • Nov 20
eQ Oyj Appoints Taina Kyllönen as Chief People and Communications Officer and Member of the Management Team, Effective February 1, 2026 eQ Oyj announced that Taina Kyllönen, M.Sc. (Econ.), has been appointed as eQ’s Chief People and Communications Officer and a member of the Management Team. She will assume her role no later than 1 February 2026 and will report to CEO Jouko Pölönen. Kyllönen joins eQ from the University of Helsinki, where she has served as Chief Communications Officer, with responsibilities also covering innovation services and marketing. Prior to this, she held senior leadership positions in communications, investor relations and marketing at SSAB, Rautaruukki and Metso. She has more than 20 years of experience leading international expert teams. Buy Or Sell Opportunity • Oct 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to €11.20. The fair value is estimated to be €14.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.5% over the last 3 years. Earnings per share has declined by 19%. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Reported Earnings • Oct 22
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: €0.15 (down from €0.18 in 3Q 2024). Revenue: €14.7m (down 13% from 3Q 2024). Net income: €6.04m (down 20% from 3Q 2024). Profit margin: 41% (down from 45% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 9.4%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Capital Markets industry in Finland. Over the last 3 years on average, earnings per share has fallen by 19% per year and the company’s share price has also fallen by 19% per year. Buy Or Sell Opportunity • Oct 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to €11.45. The fair value is estimated to be €14.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.8% over the last 3 years. Earnings per share has declined by 19%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. Upcoming Dividend • Sep 29
Upcoming dividend of €0.33 per share Eligible shareholders must have bought the stock before 06 October 2025. Payment date: 14 October 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.4%. Lower than top quartile of Finnish dividend payers (6.0%). Lower than average of industry peers (6.5%). Reported Earnings • Aug 06
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: €0.11 (down from €0.18 in 2Q 2024). Revenue: €14.5m (down 19% from 2Q 2024). Net income: €4.71m (down 36% from 2Q 2024). Profit margin: 33% (down from 41% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 21%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Capital Markets industry in Finland. Over the last 3 years on average, earnings per share has fallen by 19% per year and the company’s share price has also fallen by 19% per year. New Risk • Jul 10
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 6.1% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 99% Cash payout ratio: 186% High level of non-cash earnings (27% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.1% average weekly change). Announcement • Jun 25
eQ Plc Announces CEO Changes, Effective September 1, 2025 eQ Plc announced on 5 May 2025, that the company’s Board of Directors has appointed Jouko Pölönen as the company’s CEO. It has been agreed that Jouko Pölönen will assume the role of eQ Plc’s CEO on 1 September 2025. He succeeds eQ Plc’s interim CEO Janne Larma, who will continue as interim CEO until 31 August 2025. For the sake of clarity, the company confirm that Janne Larma will continue as a member of the company's Board of Directors after the transition. Announcement • Jun 05
Logistea AB (publ) (OM:LOGI A) entered into an agreement to acquire fully let property in Hämeenlinna, Finland from eQ Commercial Properties Fund (AIF) a fund managed by eQ Oyj (HLSE:EQV1V). Logistea AB (publ) (OM:LOGI A) entered into an agreement to acquire fully let property in Hämeenlinna, Finland from eQ Commercial Properties Fund (AIF) a fund managed by eQ Oyj (HLSE:EQV1V) on June 3, 2025. The transaction is financed with bank loans and available funds.
The expected completion of the transaction is June 12, 2025.
Leif Laitinen of Borenius Attorneys Ltd acted as legal advisor to Logistea AB. Buy Or Sell Opportunity • May 12
Now 23% undervalued Over the last 90 days, the stock has risen 3.6% to €11.60. The fair value is estimated to be €15.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.1% over the last 3 years. Earnings per share has declined by 15%. For the next 3 years, revenue is forecast to grow by 5.1% per annum. Earnings are also forecast to grow by 5.8% per annum over the same time period. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €12.20, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 15x in the Capital Markets industry in Finland. Total loss to shareholders of 34% over the past three years. Declared Dividend • Apr 04
Dividend of €0.33 announced Shareholders will receive a dividend of €0.33. Ex-date: 6th October 2025 Payment date: 14th October 2025 Dividend yield will be 6.4%, which is about the same as the industry average. Sustainability & Growth Dividend is not adequately covered by earnings (99% earnings payout ratio) nor is it covered by cash flows (186% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 10% to bring the payout ratio under control. EPS is expected to grow by 27% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Board Change • Mar 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Paivi Arminen was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 19
Upcoming dividend of €0.33 per share Eligible shareholders must have bought the stock before 26 March 2025. Payment date: 03 April 2025. Payout ratio is on the higher end at 99%, and the cash payout ratio is above 100%. Trailing yield: 5.9%. Within top quartile of Finnish dividend payers (5.9%). In line with average of industry peers (6.4%). Declared Dividend • Feb 06
Final dividend of €0.33 announced Shareholders will receive a dividend of €0.33. Ex-date: 26th March 2025 Payment date: 3rd April 2025 Dividend yield will be 6.4%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (100% earnings payout ratio) nor is it covered by cash flows (186% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. EPS is expected to grow by 27% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Feb 04
eQ Oyj Proposes First and Second Installment of Dividend for the Period from January to December 2024, Payable on 3 April 2025 and 14 October 2025, Respectively eQ Oyj proposed dividend for the period from January to December 2024 of EUR 0.66 per share against EUR 0.80 per share paid a year ago. The Board of Directors proposes to the Annual General Meeting, to be held on 25 March 2025, that a dividend of EUR 0.66 per share be paid out. The proposal corresponds to a dividend totalling EUR 27,328,750.68 calculated with the number of shares at the close of the financial year. The dividend will be paid out in two separate installments. The first installment, EUR 0.33 per share shall be paid to those shareholders who are registered as shareholders in eQ Plc's shareholder register maintained by Euroclear Finland Ltd. on the record date of the dividend payment on 27 March 2025. The Board proposes 3 April 2025 as the payment date of the first installment of the dividend. The second installment, EUR 0.33 per share shall be paid in October 2025. The second installment shall be paid to those shareholders who are registered as shareholders in eQ Plc's shareholder register maintained by Euroclear Finland Ltd. on the record date of the divided payment. The Board shall decide the record date and the payment date of the second installment of the divided in its meeting in September 2025. It is contemplated that the record date of the second installment will be 7 October 2025 and that the payment date will be 14 October 2025. Announcement • Oct 28
eQ Announces Executive Changes The Board of Directors of eQ Plc's has decided that the company's current full-time Chair of the Board, Janne Larma, will become Chairman of the eQ Group’s Management Team. Current Deputy Chair of the Board Georg Ehrnrooth will serve as Chair of the eQ Plc’s Board of Directors, while Janne Larma will continue as a member of the Board. Tero Estovirta, Deputy Managing Director of eQ Asset Management Ltd, has been appointed Managing Director of eQ Asset Management Ltd, and the eQ Plc Board of Directors has also appointed him as a member of the eQ Group’s Management Team. Reported Earnings • Oct 23
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: €0.18 (down from €0.20 in 3Q 2023). Revenue: €16.9m (flat on 3Q 2023). Net income: €7.57m (down 6.0% from 3Q 2023). Profit margin: 45% (down from 48% in 3Q 2023). Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 5.3%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Capital Markets industry in Finland. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Sep 17
Upcoming dividend of €0.40 per share Eligible shareholders must have bought the stock before 24 September 2024. Payment date: 02 October 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.8%. Lower than top quartile of Finnish dividend payers (6.1%). In line with average of industry peers (6.2%). Announcement • Sep 09
eQ Oyj Announces Second Instalment of the Dividend, Payable on 2 October 2024 eQ Oyj decided the record date and payment date of the second instalment of the dividend for 2023, on the basis of the authorization by the Annual General Meeting. The second instalment of the dividend is EUR 0.40. The second instalment of the dividend shall be paid to a shareholder who is registered in the shareholders’ register of eQ Plc maintained by Euroclear Finland Ltd. on the dividend record date 25 September 2024. The dividend payment date is 2 October 2024. Reported Earnings • Aug 07
Second quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2024 results: EPS: €0.18 (down from €0.19 in 2Q 2023). Revenue: €17.9m (down 1.5% from 2Q 2023). Net income: €7.36m (down 5.7% from 2Q 2023). Profit margin: 41% (down from 43% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Capital Markets industry in Finland. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Announcement • Aug 07
eQ Oyj, Annual General Meeting, Mar 25, 2025 eQ Oyj, Annual General Meeting, Mar 25, 2025. Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: €0.17 (vs €0.20 in 1Q 2023) First quarter 2024 results: EPS: €0.17 (down from €0.20 in 1Q 2023). Revenue: €16.7m (down 6.7% from 1Q 2023). Net income: €6.98m (down 12% from 1Q 2023). Profit margin: 42% (down from 44% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Capital Markets industry in Finland. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Announcement • Mar 22
eQ Oyj Approves First and Second Installment of Dividend, Payable on 3 April 2024 and 2 October 2024, Respectively eQ Oyj at the AGM held on 21 March 2024, confirmed the proposal by the Board of Directors that a dividend of EUR 0.80 per share be paid out. The dividend will be paid out in two separate installments. The first installment, EUR 0.40 per share shall be paid to those shareholders who are registered as shareholders in eQ Plc's shareholder register maintained by Euroclear Finland Ltd. on the record date of the dividend payment on 25 March 2024. The first installment of the dividend shall be paid on 3 April 2024. The second installment, EUR 0.40 per share shall be paid in October 2024 to those shareholders who are registered as shareholders in eQ Plc's shareholder register maintained by Euroclear Finland Ltd. on the record date of the divided payment. The Board shall decide the record date and the payment date of the second installment of the divided in its meeting in September 2024. It is contemplated that the record date of the second installment will be 25 September 2024 and that the payment date will be 2 October 2024. Board Change • Mar 15
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Paivi Arminen was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Declared Dividend • Mar 07
Dividend reduced to €0.40 Dividend of €0.40 is 60% lower than last year. Ex-date: 22nd March 2024 Payment date: 3rd April 2024 Dividend yield will be 2.8%, which is lower than the industry average of 6.5%. Sustainability & Growth Dividend is not covered by earnings (103% earnings payout ratio) nor is it covered by cash flows (112% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 14% to bring the payout ratio under control. EPS is expected to grow by 30% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Price Target Changed • Feb 07
Price target decreased by 13% to €14.00 Down from €16.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of €14.24. Stock is down 36% over the past year. The company is forecast to post earnings per share of €0.77 for next year compared to €0.78 last year. Announcement • Feb 06
Eq Oyj Proposes Dividend The Board of Directors of eQ Oyj proposed to the Annual General Meeting that a dividend of €0.80 per share be paid out. The proposal corresponds to a dividend totaling €32,596,558.40 calculated with the number of shares at the close of the financial year. The dividend will be paid out in two separate installments. The first installment, €0.40 per share shall be paid to those shareholders who are registered as shareholders in eQ Plc's shareholder register maintained by Euroclear Finland Ltd. on the record date of the dividend payment on 25 March 2024. The Board proposes 3 April 2024 as the payment date of the first installment of the dividend. The second installment, €0.40 per share shall be paid in October 2024. The second installment shall be paid to those shareholders who are registered as shareholders in eQ Plc's shareholder register maintained by Euroclear Finland Ltd. on the record date of the divided payment. The Board shall decide the record date and the payment date of the second installment of the divided in its meeting in September 2024. It is contemplated that the record date of the second installment will be 25 September 2024 and that the payment date will be 2 October 2024. Reported Earnings • Oct 25
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: €0.20 (down from €0.24 in 3Q 2022). Revenue: €16.8m (down 17% from 3Q 2022). Net income: €8.06m (down 18% from 3Q 2022). Profit margin: 48% (in line with 3Q 2022). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Capital Markets industry in Finland. 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 4% per year. Reported Earnings • Aug 09
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: €0.19 (down from €0.28 in 2Q 2022). Revenue: €18.2m (down 19% from 2Q 2022). Net income: €7.80m (down 30% from 2Q 2022). Profit margin: 43% (down from 50% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 14%. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 8% per year. Announcement • Aug 09
eQ Oyj to Report Q1, 2024 Results on Apr 23, 2024 eQ Oyj announced that they will report Q1, 2024 results on Apr 23, 2024 Price Target Changed • Apr 30
Price target decreased by 9.1% to €20.00 Down from €22.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of €19.24. Stock is down 18% over the past year. The company is forecast to post earnings per share of €0.88 for next year compared to €0.91 last year. Reported Earnings • Apr 26
First quarter 2023 earnings: Revenues miss analyst expectations First quarter 2023 results: Revenue: €17.9m (down 18% from 1Q 2022). Net income: €7.90m (down 24% from 1Q 2022). Profit margin: 44% (down from 47% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 8.2%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Capital Markets industry in Finland. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Board Change • Apr 14
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Timo Kokkila was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 21
Upcoming dividend of €1.00 per share at 5.0% yield Eligible shareholders must have bought the stock before 28 March 2023. Payment date: 05 April 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.0%. Lower than top quartile of Finnish dividend payers (5.2%). Lower than average of industry peers (5.7%). Board Change • Mar 07
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. 3 experienced directors. 2 highly experienced directors. Director Tom Von Rettig was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 08
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: €0.91 (down from €0.97 in FY 2021). Revenue: €78.4m (down 1.4% from FY 2021). Net income: €36.3m (down 4.6% from FY 2021). Profit margin: 46% (down from 48% in FY 2021). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Capital Markets industry in Finland. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Feb 07
eQ Oyj Proposes Dividend Payment for the Year Ended December 2022 eQ Oyj proposes dividend payment for the year ended December 2022. The company proposes dividend of EUR 0.91 against EUR 0.97 paid a year ago. Price Target Changed • Nov 16
Price target decreased to €23.00 Down from €27.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of €22.30. Stock is down 19% over the past year. The company is forecast to post earnings per share of €1.03 for next year compared to €0.97 last year. Price Target Changed • Oct 27
Price target decreased to €23.00 Down from €27.00, the current price target is provided by 1 analyst. New target price is 10% above last closing price of €20.90. Stock is down 21% over the past year. The company is forecast to post earnings per share of €1.03 for next year compared to €0.97 last year. Reported Earnings • Oct 26
Third quarter 2022 earnings released: EPS: €0.24 (vs €0.28 in 3Q 2021) Third quarter 2022 results: EPS: €0.24 (down from €0.28 in 3Q 2021). Revenue: €20.3m (down 3.9% from 3Q 2021). Net income: €9.84m (down 11% from 3Q 2021). Profit margin: 49% (down from 53% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 23% per year. Reported Earnings • Aug 10
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: €0.28 (up from €0.22 in 2Q 2021). Revenue: €22.5m (up 19% from 2Q 2021). Net income: €11.2m (up 33% from 2Q 2021). Profit margin: 50% (up from 45% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Over the next year, revenue is forecast to grow 4.9%, compared to a 9.0% growth forecast for the industry in Finland. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 27
Price target increased to €27.00 Up from €25.00, the current price target is provided by 1 analyst. New target price is 15% above last closing price of €23.40. Stock is up 14% over the past year. The company is forecast to post earnings per share of €0.97 for next year compared to €0.97 last year. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: €0.26 (up from €0.22 in 1Q 2021). Revenue: €21.8m (up 20% from 1Q 2021). Net income: €10.3m (up 22% from 1Q 2021). Profit margin: 47% (in line with 1Q 2021). Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 9.1%. Over the next year, revenue is forecast to grow 3.3%, compared to a 8.4% growth forecast for the industry in Finland. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 17
Upcoming dividend of €1.00 per share Eligible shareholders must have bought the stock before 24 March 2022. Payment date: 01 April 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.7%. Lower than top quartile of Finnish dividend payers (4.3%). Lower than average of industry peers (5.1%). Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 21% share price gain to €27.00, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 15x in the Capital Markets industry in Finland. Total returns to shareholders of 228% over the past three years. Announcement • Mar 02
eQ Group Launches eQ Finnish Residential Fund II eQ Group has launched its second residential property fund - eQ Finnish Residential Fund II. The fund has raised EUR 27 million in the first closing held on February 18, 2022, enabling close to EUR 100 million investment capacity. Investment activities have started and fund raising will continue in the spring. The target commitment size for the fund is similar to the first eQ Finnish Residential Fund EUR 100 million, which enables over EUR 300 million in investments. eQ Finnish Residential Fund II will invest in residential real estate in the Helsinki Metropolitan Area, in Tampere and in Turku. The fund targets complete residential buildings and aims to manage approximately 1,500 rental units in total. The fund is restricted to professional investors only in a closed end fund structure. Reported Earnings • Feb 08
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: €0.97 (up from €0.64 in FY 2020). Revenue: €79.5m (up 39% from FY 2020). Net income: €38.1m (up 55% from FY 2020). Profit margin: 48% (up from 43% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 04
eQ Oyj Proposes Dividend, Payable on April 1, 2022 eQ Oyj proposed dividend of EUR 0.97 (EUR 0.64) per share at it's AGM to be held on March 23, 2022. The dividend and equity repayment shall be paid to those who are registered as shareholders in eQ Plc's shareholder register maintained by Euroclear Finland Ltd. on the record date 25 March 2022. The Board proposes 1 April 2022 as the payment date of the dividend and equity repayment. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improved over the past week After last week's 15% share price gain to €24.75, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 15x in the Capital Markets industry in Finland. Total returns to shareholders of 247% over the past three years.