Here’s a fresh company report on Honkarakenne from Ate regarding H2. 
Honkarakenne’s second-half result was as expectedly weak and roughly in line with the profit warning the company issued in December. The guidance was largely in line with our expectations, though the profitability guidance range was still softer than our forecasts. The year 2026 was already a transitional year in our previous forecasts, and we have not made significant changes to our longer-term forecasts. We maintain our target price at 2.7 euros and our recommendation at “reduce”.