Here is the company report on GRK, Atte’s style. 
GRK’s Q3 revenue fell clearly short of our estimate due to weak performance in Sweden and Estonia, but exceptionally strong profitability brought adjusted EBIT in line with our forecast. The company narrowed its guidance ranges, although our previous estimates were already within the new ranges, so our forecast changes remained minor. The order backlog to be recognized as revenue next year grew clearly during the quarter, which supports our estimates. In our view, the stock’s valuation remains moderate, which together with the dividend yield raises the expected return to an attractive level. We reiterate our target price of EUR 23.0 and our Accumulate recommendation.