I’m starting my own thread for this! 
The company has been created in the inderes.fi service Bonava - Inderes
Q4’19 starts tomorrow at 11:00 AM Finnish time Bonava Q4'19 webcast 23.1.2020 11:00 alkaen Suomen aikaan - Inderes
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Bonava Returning to Mortals? Operating profit margin dropped from about 12% in 2018 to about 8%, even though revenue increased.
Germany and Sweden are doing well, but the Nordics (Finland, Norway, Denmark) are causing difficulties.
In Finland, there is oversupply and costs are high, which does not bode well for the profitability development of Finnish companies either.
Significantly more apartments have also remained in stock than in the previous year, with the increase originating from the Nordics.
The number of housing starts in the Nordics has also clearly decreased, and it appears that the market situation does not favor the Norwegian, Finnish, and Danish markets.
Edit: here’s a link to the Q4 report for those interested:
https://vp224.alertir.com/afw/files/press/bonava/202001225589-1.pdf
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Greetings from Bonava’s building stock. This is a so-called long-term factor at play here; there has been no hurry to get the collateral back even after more than 4 years since completion.
Finnish costs might face pressure from the fact that discussions about the completed stock drag on for years, which might not be good for new sales either. Containers will be left unsold when investors know where not to buy from.
I’m commenting as a layman and consumer, so perhaps “4 years after completion” was the wrong term, as the house was never completed to begin with.
Better news from Bonava.
Let’s revive this thread a bit. I’ve been following and owning this for a while.
Bonava had a good start to the year.
Highlights:
Gross margin rose from Q2 13.8 → 15.2 and H1 13.5 → 14.3
EPS Q2 0.71 → 2.01 and H1 0.65 → 2.73
At the same time, the stock has fallen ~64% in a year from €91 to €33.
https://vp224.alertir.com/afw/files/press/bonava/202207200159-2.pdf
Forecasts promise good things:
https://stockforecast.com/OM-BONAV%20B
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Quite a hefty drop of over 6 percent today after a month-long rise. No news at all. Does someone know something the rest of us don’t? Earnings are out on Thursday, and that’s when we’ll find out what’s going on.
STOCKHOLM (Nyhetsbyrån Direkt) Kepler Cheuvreux raises its recommendation for Bonava to buy from hold. The target price is raised to 15 from 10 kronor.
This is stated in an update from the bank.
The share closed at 9:57 kronor on the previous trading day.
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Now my interest is starting to awaken!
“Nordea brokered a block of 2,407,532 shares internally in the residential developer Bonava at a price of 9.61 kronor at 13.55.
The block corresponds to approximately 0.7 percent of the total number of shares in the company. The transaction value amounts to approximately 23.1 million kronor.
This is according to Factset.
Nordea has during the day brokered another couple of large blocks in Bonava:
At 13.53, 1,291,000 shares were brokered at a price of 9.61 kronor,
At 10.54, 1,195,000 shares were brokered at a price of 9.65 kronor,
At 10.46, 1,195,000 shares were brokered at a price of 9.6675 kronor
These four blocks together correspond to 1.8 percent of the shares in Bonava.”
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STOCKHOLM (Nyhetsbyrån Direkt) Bonava’s report for the fourth quarter was a “game changer” regarding the outlook for margins and construction starts.
This is according to ABG Sundal Collier in an analysis where the recommendation for the share is raised to buy (hold) and the target price is raised to SEK 15 (10), which Nyhetsbyrån Direkt reported earlier on Monday.
According to ABG, Bonava needs a gross profit margin of about 16 percent to reach its target of an operating margin of approximately 10 percent in 2026, and the company’s management indicated in connection with the report that recent project starts achieve that level. Since ABG and consensus according to Infront currently expect an operating margin of approximately 7 percent for 2026, increased clarity on margins in new construction starts could mean that consensus for EBIT is raised by around 40 percent, the analysis firm writes.
Regarding volumes, the company’s management indicated that 2025 should mean “significantly more” starts than 2024, but likely not reach the normalized capacity of 3,500-4,000.
Ahead of the company’s upcoming capital markets day, ABG expects management to address the main concerns: can the balance sheet handle more than 3,000 starts, and are there enough building rights for more than 3,000 starts?
Target price raised to SEK 15!
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Currently ongoing: Capital Markets Day 2025
I don’t have time to participate right now, but I guess the material can be reviewed later.
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Here is the presentation:
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Bonava’s CEO is optimistic! The article is behind a paywall.
If you get to read this, could you please give a few key points on the topic, thanks
“We have increased efficiency, reduced costs, lowered debt from 8 to 3 billion SEK, and see a market turnaround from low levels. Bonava is undervalued, and the goal now is to increase the valuation. We are facing a huge increase in value,” says Wallin.
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Figures released.
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That probably won’t be enough for the market. We’ll see soon.
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Hi, the price still held its ground with quite a large volume.
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CEO buying shares. Looks good!
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Bonava shares are now in demand! Norwegian billionaire on a shopping spree.
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Foot on the gas…
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