Eeva Ruokonen is proposed as a new member of Betolar’s Board of Directors.
According to the proposal, six members will be elected to the board. Eeva Ruokonen is proposed to be elected as a new member. Ruokonen has over 35 years of experience in the mining and metallurgical industries.
Here are Tommi’s comments on Betolar’s H2 results. 
Betolar published its financial statement release this morning. The main lines reported by the company were close to our forecast levels. On results day, our attention is focused on the company’s comments regarding the development of the tightened balance sheet situation, as well as the progress of the largest project in the company’s history, which we understand to be in the delivery phase. The company’s webcast can be followed starting at 10:00 here.
Tommi spoke with Betolar’s CEO Tuija Kalpala about H2 and the company’s outlook.
Topics:
00:00 Introduction
00:10 Key highlights for 2025
01:09 Business objectives
03:26 Financial targets
04:14 Large order at the end of the year
05:02 Guidance for 2026
05:50 Financial situation
07:05 Development of metal separation technology
Here is a new company report on Betolar from Tommi following H2.
Betolar’s financial statements release was somewhat neutral relative to our expectations, as the forecast figures fell slightly short of our expectations, but the guidance pointed to significant growth. We lowered our revenue forecasts, but we still expect clear growth in the coming years, supported by metal separation technology. The company’s risk level remains very high in relation to the balance sheet, forecasts, and valuation. Thus, despite the potential longer-term growth story, the risk-reward ratio is, in our view, lackluster. We reiterate our Reduce recommendation and EUR 1.3 target price.