Thanks for the good chart; the operating profit curve is quite similar for both, although in absolute terms, SAKA’s operating profit has still managed to grow, estimated from the chart.
Is this trend now just a consequence of the interest rate shock, or is there still fierce market share competition ongoing in Finland, regardless of margins?
SAKA has certainly been one of the margin squeezers that has enabled growth for them. Possibly, of course, the inflation shock is also reflected in wages and other costs. The rise in their prices will surely calm down here, but if the market share competition continues with thinning margins, then it will be difficult.