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Loihde

Loihde is a service provider, specializing in comprehensive security and IT services. The company engages in agile digital IT-services, such as digi-strategy consultancy, data solutions and analytics, AI, software development and service design. Loihde focuses on high-tier security technologies both in its physical and digital security services. The company employs over 800 persons.
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Overview

Loihde is a service provider, specializing in comprehensive security and IT services. The company engages in agile digital IT-services, such as digi-strategy consultancy, data solutions and analytics, AI, software development and service design. Loihde focuses on high-tier security technologies both in its physical and digital security services. The company employs over 800 persons.
Loihde has gone through notable organizational changes and has now placed its focus on growing its topline and improving its profitability. With further integrating its back-office and administrative function, additional cost savings are likely to materialize. Margins should also see further expansion with the increased share of digital security and IT-services. Loihde's large net cash position enables the company to further speed up its growth with M&A activities. The company operates in prolific markets with the underlying markets grow at high-single-digit figures by several megatrends supporting the underlying market development.

Financial overview

Equity research

Loihde text on the wall and salmon red ceiling lamp.
Loihde logo
Loihde - Well on the earnings growth track

Loihde’s 2024 started of quite well and beat our expectations. We continue to expect lower single-digit growth and a clear improvement in profitability in 2024.

Company update |
Loihde text on the wall and salmon red ceiling lamp.
Loihde logo
Loihde - Growth and profitability improvement

Loihde’s Q1 was a pleasant surprise, as we had expected a softer start to the year. The adj. EBITDA improved clearly y/y and beat our estimate, at EUR 1.6m (Evli 0.5m). Net sales also grew nicely by 6% to EUR 33.0m (Evli EUR 31.8m).

Earnings Flash |
Loihde text on the wall and salmon red ceiling lamp.
Loihde logo
Loihde - Cautiously heading into 2024

Loihde’s Q4 came with no larger P&L surprises. Expectations for 2024 are slightly more conservative than we previously estimated but margin improvement potential remains on the weaker comparison figures.

Company update |
Loihde text on the wall and salmon red ceiling lamp.
Loihde logo
Loihde - Guidance on the softer side

Loihde’s Q4 results were in line with our estimates on topline figures, with growth of 3% while the adj. EBITDA came in below our estimates at 3.8m (Evli EUR 4.4.). Group revenue is expected to be flat or grow in 2024 and adj. EBITDA to improve.

Earnings Flash |
Loihde text on the wall and salmon red ceiling lamp.
Loihde logo
Loihde - Ambitious plans for profitability

Loihde is under its updated strategy seeking to grow 10% annually and achieve an adj. EBITDA of 15% by 2027 for which Loihde, despite a confidence boosting CMD, still has quite a lot to show for.

Company update |
Loihde text on the wall and salmon red ceiling lamp.
Loihde logo
Loihde - Looking for a solid finish to 2023

Loihde’s Q3 saw profitability improve while lacking growth. With the reiterated guidance, Loihde will be looking for a solid Q4 in terms of profitability. We retain our HOLD-rating with a target price of EUR 13.0 (13.5).

Company update |
Loihde text on the wall and salmon red ceiling lamp.
Loihde logo
Loihde - Profitability developed favourably

Loihde’s Q3 saw adj. EBITDA improving 30% y/y, but was below our estimates, at EUR 2.9m (Evli 4.0m). Growth was flat y/y, with net sales at EUR 29.9m (Evli EUR 32.3m). Profitability development is expected to continue favourably also during the end of the year.

Earnings Flash |
Loihde text on the wall and salmon red ceiling lamp.
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Loihde - Year-end profitability has to be stronger

Loihde reported two-folded Q2 figures. Net sales came in strong with 15% growth, despite soft digital development sales. Profitability was weak, which leaves a lot to catch up in H2.

Company update |
Loihde text on the wall and salmon red ceiling lamp.
Loihde logo
Loihde - Two-folded quarter

Loihde released Q2 result with strong topline growth. Net sales grew in line with our expectations, with strong SeSo sales, while DiDe was negatively impacted by the soft market. Profitability fell short of our expectations and was weak with market issues. Year-end seems brighter, but uncertainty remains high, especially in DiDe.

Earnings Flash |
Loihde text on the wall and salmon red ceiling lamp.
Loihde logo
Loihde - Strong security drives Q2 growth

Loihde reports its Q2 result on Thursday. While SeSo is expected to drive strong Q2 growth, the current market environment has continued weak and uncertain in DiDe. In addition to the soft utilization rates of DiDe, we expect SeSo’s ERP project to bring additional costs that together limit Q2 and 23E profitability.

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Loihde Plc: SHARE REPURCHASE 18.7.2024

Helsinki Stock Exchange        
        
Trade date: 18.7.2024
Bourse trade: BUY    
Share: LOIHDE    
Amount: 226 shares
Average price / share: 11,7608 EUR
Total cost: 2 657,95 EUR
        
Following shares repurchased on 18.7.2024
the Group now holds 4 918 shares.
        
On behalf of Loihde Plc        
        
Lago Kapital Ltd        
        
Maj van Dijk     Jani Koskell        
        
Further information:        
CEO Samu Konttinen        
Media contact: Director of Communications Tiina Nieminen        
tel. +358 44 411 3480        
email: tiina.nieminen@loihde.com        

Attachments

Loihde Plc: SHARE REPURCHASE 17.7.2024

Helsinki Stock Exchange        
        
Trade date: 17.7.2024
Bourse trade: BUY    
Share: LOIHDE    
Amount: 363 shares
Average price / share: 11,9997 EUR
Total cost: 4 355,90 EUR
        
Following shares repurchased on 17.7.2024
the Group now holds 4 692 shares.
        
On behalf of Loihde Plc        
        
Lago Kapital Ltd        
        
Maj van Dijk     Jani Koskell        
        
Further information:        
CEO Samu Konttinen        
Media contact: Director of Communications Tiina Nieminen        
tel. +358 44 411 3480        
email: tiina.nieminen@loihde.com        

Attachments

Loihde Plc: SHARE REPURCHASE 16.7.2024

Helsinki Stock Exchange        
        
Trade date: 16.7.2024
Bourse trade: BUY    
Share: LOIHDE    
Amount: 354 shares
Average price / share: 11,8088 EUR
Total cost: 4 180,30 EUR
        
Following shares repurchased on 16.7.2024
the Group now holds 4 329 shares.
        
On behalf of Loihde Plc        
        
Lago Kapital Ltd        
        
Maj van Dijk     Jani Koskell        
        
Further information:        
CEO Samu Konttinen        
Media contact: Director of Communications Tiina Nieminen        
tel. +358 44 411 3480        
email: tiina.nieminen@loihde.com        

Attachments

Loihde Plc: SHARE REPURCHASE 15.7.2024

Helsinki Stock Exchange        
        
Trade date: 15.7.2024
Bourse trade: BUY    
Share: LOIHDE    
Amount: 341 shares
Average price / share: 12,0166 EUR
Total cost: 4 097,65 EUR
        
Following shares repurchased on 15.7.2024
the Group now holds 3 975 shares.
        
On behalf of Loihde Plc        
        
Lago Kapital Ltd        
        
Maj van Dijk     Jani Koskell        
        
Further information:        
CEO Samu Konttinen        
Media contact: Director of Communications Tiina Nieminen        
tel. +358 44 411 3480        
email: tiina.nieminen@loihde.com        

Attachments

Loihde Plc: SHARE REPURCHASE 12.7.2024

Helsinki Stock Exchange        
        
Trade date: 12.7.2024
Bourse trade: BUY    
Share: LOIHDE    
Amount: 280 shares
Average price / share: 12,0082 EUR
Total cost: 3 362,30 EUR
        
Following shares repurchased on 12.7.2024
the Group now holds 3 634 shares.
        
On behalf of Loihde Plc        
        
Lago Kapital Ltd        
        
Maj van Dijk     Jani Koskell        
        
Further information:        
CEO Samu Konttinen        
Media contact: Director of Communications Tiina Nieminen        
tel. +358 44 411 3480        
email: tiina.nieminen@loihde.com        

Attachments

Loihde Plc: SHARE REPURCHASE 11.7.2024

Helsinki Stock Exchange        
        
Trade date: 11.7.2024
Bourse trade: BUY    
Share: LOIHDE    
Amount: 424 shares
Average price / share: 12,0382 EUR
Total cost: 5 104,20 EUR
        
Following shares repurchased on 11.7.2024
the Group now holds 3 354 shares.
        
On behalf of Loihde Plc        
        
Lago Kapital Ltd        
        
Maj van Dijk     Jani Koskell        
        
Further information:        
CEO Samu Konttinen        
Media contact: Director of Communications Tiina Nieminen        
tel. +358 44 411 3480        
email: tiina.nieminen@loihde.com        

Attachments

Loihde Plc: SHARE REPURCHASE 10.7.2024

Helsinki Stock Exchange        
        
Trade date: 10.7.2024
Bourse trade: BUY    
Share: LOIHDE    
Amount: 432 shares
Average price / share: 12,0681 EUR
Total cost: 5 213,40 EUR
        
Following shares repurchased on 10.7.2024
the Group now holds 2 930 shares.
        
On behalf of Loihde Plc        
        
Lago Kapital Ltd        
        
Maj van Dijk     Jani Koskell        
        
Further information:        
CEO Samu Konttinen        
Media contact: Director of Communications Tiina Nieminen        
tel. +358 44 411 3480        
email: tiina.nieminen@loihde.com        

Attachments

Loihde Plc: SHARE REPURCHASE 9.7.2024

Helsinki Stock Exchange        
        
Trade date: 9.7.2024
Bourse trade: BUY    
Share: LOIHDE    
Amount: 339 shares
Average price / share: 11,8807 EUR
Total cost: 4 027,55 EUR
        
Following shares repurchased on 9.7.2024
the Group now holds 2 498 shares.
        
On behalf of Loihde Plc        
        
Lago Kapital Ltd        
        
Maj van Dijk     Jani Koskell        
        
Further information:        
CEO Samu Konttinen        
Media contact: Director of Communications Tiina Nieminen        
tel. +358 44 411 3480        
email: tiina.nieminen@loihde.com        

Attachments

Loihde Plc: SHARE REPURCHASE 8.7.2024

Helsinki Stock Exchange        
        
Trade date: 8.7.2024
Bourse trade: BUY    
Share: LOIHDE    
Amount: 448 shares
Average price / share: 12,0297 EUR
Total cost: 5 389,30 EUR
        
Following shares repurchased on 8.7.2024
the Group now holds 2 159 shares.
        
On behalf of Loihde Plc        
        
Lago Kapital Ltd        
        
Maj van Dijk     Jani Koskell        
        
Further information:        
CEO Samu Konttinen        
Media contact: Director of Communications Tiina Nieminen        
tel. +358 44 411 3480        
email: tiina.nieminen@loihde.com        

Attachments

Loihde Plc: SHARE REPURCHASE 5.7.2024

Helsinki Stock Exchange        
        
Trade date: 5.7.2024
Bourse trade: BUY    
Share: LOIHDE    
Amount: 276 shares
Average price / share: 11,9917 EUR
Total cost: 3 309,70 EUR
        
Following shares repurchased on 5.7.2024
the Group now holds 1 711 shares.
        
On behalf of Loihde Plc        
        
Lago Kapital Ltd        
        
Maj van Dijk     Jani Koskell        
        
Further information:        
CEO Samu Konttinen        
Media contact: Director of Communications Tiina Nieminen        
tel. +358 44 411 3480        
email: tiina.nieminen@loihde.com        

Attachments

Loihde Plc: SHARE REPURCHASE 4.7.2024

Helsinki Stock Exchange        
        
Trade date: 4.7.2024
Bourse trade: BUY    
Share: LOIHDE    
Amount: 337 shares
Average price / share: 12,00 EUR
Total cost: 4 044,00 EUR
        
Following shares repurchased on 4.7.2024
the Group now holds 1 435 shares.
        
On behalf of Loihde Plc        
        
Lago Kapital Ltd        
        
Maj van Dijk     Jani Koskell        
        
Further information:        
CEO Samu Konttinen        
Media contact: Director of Communications Tiina Nieminen        
tel. +358 44 411 3480        
email: tiina.nieminen@loihde.com        

Attachments

Loihde Plc: SHARE REPURCHASE 3.7.2024

Helsinki Stock Exchange        
        
Trade date: 3.7.2024
Bourse trade: BUY    
Share: LOIHDE    
Amount: 225 shares
Average price / share: 12,20 EUR
Total cost: 2 745,00 EUR
        
Following shares repurchased on 3.7.2024
the Group now holds 1 098 shares.
        
On behalf of Loihde Plc        
        
Lago Kapital Ltd        
        
Maj van Dijk     Jani Koskell        
        
Further information:        
CEO Samu Konttinen        
Media contact: Director of Communications Tiina Nieminen        
tel. +358 44 411 3480        
email: tiina.nieminen@loihde.com        

Attachments

Loihde Plc: SHARE REPURCHASE 2.7.2024

Helsinki Stock Exchange        
        
Trade date: 2.7.2024
Bourse trade: BUY    
Share: LOIHDE    
Amount: 71 shares
Average price / share: 12,20 EUR
Total cost: 866,20 EUR
        
Following shares repurchased on 2.7.2024
the Group now holds 873 shares.
        
On behalf of Loihde Plc        
        
Lago Kapital Ltd        
        
Maj van Dijk     Jani Koskell        
        
Further information:        
CEO Samu Konttinen        
Media contact: Director of Communications Tiina Nieminen        
tel. +358 44 411 3480        
email: tiina.nieminen@loihde.com        

Attachments

Loihde Plc: SHARE REPURCHASE 1.7.2024

Helsinki Stock Exchange        
        
Trade date: 1.7.2024
Bourse trade: BUY    
Share: LOIHDE    
Amount: 402 shares
Average price / share: 12,2739 EUR
Total cost: 4 934,10 EUR
        
Following shares repurchased on 1.7.2024
the Group now holds 802 shares.
        
On behalf of Loihde Plc        
        
Lago Kapital Ltd        
        
Maj van Dijk     Jani Koskell        
        
Further information:        
CEO Samu Konttinen        
Media contact: Director of Communications Tiina Nieminen        
tel. +358 44 411 3480        
email: tiina.nieminen@loihde.com        

Attachments

Loihde Plc  Managers’ Transactions  28.6.2024 at 5:00 p.m. EEST

Loihde Plc: Managers’ Transactions  – Suhonen

Loihde Plc has received the following notification:

Loihde Oyj - Managers' Transactions

____________________________________________

Person subject to the notification requirement

Name: Pirjo Suhonen

Position: Chief Financial Officer

 Issuer: Loihde Oyj

LEI: 7437009IZO2SU9TPO664

Notification type: INITIAL NOTIFICATION

Reference number: 67612/4/4

____________________________________________

Transaction date: 2024-06-27

Outside a trading venue

Instrument type: SHARE

ISIN: FI4000014238

Nature of transaction: SUBSCRIPTION

Transaction details

(1): Volume: 45 Unit price: 13.3163 EUR

Aggregated transactions (1):

Volume: 45 Volume weighted average price: 13.3163 EUR



Further information

Director of Communications Tiina Nieminen, tel. +358 44 411 3480 or tiina.nieminen@loihde.com

Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098

Loihde enables business continuity. We help our customers to create growth and competitiveness through digitalisation and to protect themselves from physical and cyber threats.  Loihde consists of two business areas: security solutions with the brand Loihde Trust, and digital development with the brands Loihde Advance, Loihde Factor and Loihde Cloudon. The Group has approximately 850 employees and its revenue in 2023 amounted to EUR 133 million.

Attachments

Shareholders Date % of Shares % of Votes
Suomen Teollisuussijoitus Oy 31.03.2024 4.8% 4.8%
Bellurum Oy 31.03.2024 3.7% 3.7%
Lakiasiaintoimisto Asiakasturva Oy 31.03.2024 2.2% 2.2%
VISIO Allocator Fund 31.03.2024 1.7% 1.7%
Tenendum Oy 31.03.2024 1.3% 1.3%
LähiTapiola Keskinäinen Henkivakuutusyhtiö 31.03.2024 1.3% 1.3%
LähiTapiola Keskinäinen Vakuutusyhtiö 31.03.2024 1.3% 1.3%
Vaasan kaupunki 31.03.2024 1.2% 1.2%
Hotcom Oy 31.03.2024 1.2% 1.2%
Pelkonen Antti Olavi 31.03.2024 1.2% 1.2%

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Company Facts

CEO Samu Konttinen
CFO Pirjo Suhonen
IR Tiina Nieminen
Market cap (EURm) 67
Industry IT Services
Ticker LOIHDE

Guidance

Over 10% net sales growth both in SeSo and EUR 39.5m-41.0m in DiDe. Adj. EBITDA to be EUR 7-9m.

Financial targets

2024-2027: Annual revenue growth of approximately 10%, adj. EBITDA-margin 15% by 2027. ROI above 10% and net debt/EBITDA 0-2x.

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