Framery raised 20 million euros in its IPO.
Now, a couple of months later, the company is distributing 18.24 million euros as a dividend (79,148,831 shares x 23 cents dividend).
The IPO was a pure cash-out, and even the funds collected from the public are being funneled into the pockets of the major owners. Once the shareholders are able to sell their remaining shares during this year, the game is over. Hopefully, the share price stays up for a few more months for the cashing out.
With these numbers, Framery won’t become a dividend stock. At a share price of 7 euros, the dividend yield is a “staggering” 3.2%, which is in the range of a risk-free fixed-term deposit. The dividend to be paid out is practically the entire cash reserve (19.7 million euros) as of 31.12.2025. So, emptying the coffers; there doesn’t seem to be any sensible need for investment (real growth companies spend their money on investments, i.e., growth).
There is no growth in sight; if there were, the company would surely pump it up by reporting news to drive the share price higher. It is indeed an office furniture company, as someone wrote above. Everyone can think for themselves how much the office furniture market will grow, using whatever variables they like. This is definitely not a growth business, even in theory, that could scale many times over. Competition is extremely fierce, margins are shrinking, and it’s a highly cyclical business.
The current share value is absurd. I simply don’t understand how anyone agrees to buy or own the stock at this price. At best, this is a boom-time office luxury product with a very limited market.
If this were truly a growth company, some larger corporation or investor would have bought it, and it wouldn’t be floating around on the small Helsinki Stock Exchange.
The company’s revenue has been treading water at this level for the last 4 years. So much for growth.
There are plenty of stories, and money is changing hands from the uninformed to the players. In a few years, people will be wondering again how it all turned out like this. You should go to the company’s website and read the financial statements. You can understand a lot from the numbers.