It’s certainly not easy for Kesla, and here are Aapeli’s preliminary comments as the company reports its results on Friday. 
We significantly lowered our forecasts for Kesla’s coming years, reflecting the profit warning issued earlier this month and the darkening outlook for domestic timber harvesting volumes during the autumn. With the forecast changes, we find it difficult to find support points for the stock’s short-term valuation. This, combined with the elevated risk level related to the company’s financial position, causes the stock’s risk-adjusted return expectation to become, in our opinion, very weak.